REAL ESTATE

Buxton partners with City of Benbrook to develop regional shopping center

BY Staff Writer

Benbrook, Texas — The City of Benbrook, Texas, announced Wednesday a new partnership with customer analytics firm Buxton to develop a new regional shopping center The Trails Town Center.

The public -private partnership will build a 1.5 million-sq.-ft., open-air, regional shopping and entertainment development projected to generate $375 million in annual retail sales and provide 6,250+ jobs.

“We are very excited to partner with Buxton in this new development,” says Benbrook Mayor Jerry Dittrich, “Benbrook is ideally located to provide easy-access, regional retail, restaurant, and entertainment opportunities for not only Metroplex shoppers, but for our surrounding communities to the south and west as well.”

A contract has been executed with Cassco Land Co. for the approximately 193-acre retail project.

“A development of this magnitude will serve as a gateway to west Texas, and is the only open-air regional development of this size projected for the Southwest,” said Tom Buxton.

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REAL ESTATE

Inland Western acquires Texas shopping center for $35 million

BY Staff Writer

Oak Brook, Ill. — Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million.

“Texas ranks number two in the nation for having the highest economic output over the past decade, and we are pleased to expand our Texas portfolio to more than 9.6 million sq. ft. under management,” said Shane Garrison, chief investment officer of Inland Western.

Sawyer Heights Village is anchored by Staples and PetSmart and shadow-anchored by Target.

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REAL ESTATE

Tri-Land announces new leases

BY Staff Writer

Westchester, Ill. — Tri-Land Properties announced Thursday that Marshalls and Qdoba Mexican Grill have joined the company’s projects in Indiana and Minnesota.

At Southern Plaza, a 335,000-sq.-ft. Indianapolis shopping center anchored by Kroger and Office Depot, Marshalls has opened a 24,084-sq.-ft. store.

At Century Plaza, a 300,592-sq.-ft. shopping center located in Merrillville, Ind. anchored by Staples and Old Time Pottery, Qdoba Mexican Grill has opened a 2,700-sq. ft. Mexican fast-casual restaurant.

Also, in related news, Blaine Oriental Market has expanded to 4,280 sq. ft. at Oak Park Plaza, a 95,340-sq. ft. shopping center in Blaine, Minn.

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